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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Theaters & concert halls
2655 Fm 1488th Rd Conroe, TX 77384-3939
Entity Owned
9-yr Hold
Free & Clear
Property ID
US83-2385257
Property profile
Verified
Property type
Theaters & concert halls
Use group
AUDITORIUM
Year built
1981
Total area
6,720 SF
Lot
1.9 ac (82,720 SF)
Zoning code
6
APN
0490-00-01201
UPID
US83-2385257
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
The Dojo & Fit Club Training Center Sports School
-
Vick's Texas Barbecue Restaurant
-
Fuel Fuel Supplier
-
TAQUERIA Carnitas El Cliente Restaurant
-
Nyamings & Jammings Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$590k
Owner & transaction history
Conroe Event Center INC · 9 yrs held
Conroe Event Center INC
since 2016
1 recorded transaction
Zoning & alternative use
6 · Conroe, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$800,000
+34.0%
Warehouse, storage
$635,000
+6.4%
Apartment house (5+ units)
$610,000
+2.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Conroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conroe submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
THEATER (MOVIE)
$595,000
Current use
RESTAURANT
$800,000
Change: +34% · Conversion: Difficult
WAREHOUSE, STORAGE
$635,000
Change: +6% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$610,000
Change: +2% · Conversion: Difficult
AUTO REPAIR, GARAGE
$600,000
Change: +0% · Conversion: Difficult
OFFICE BUILDING
$540,000
Change: -10% · Conversion: Difficult
RETAIL STORES
$505,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$88 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Assessed value
$1,639,560
Assessed 2024
Previous assessed
$1,476,590
+11.0% YoY
Assessed land
$1,157,970
Assessed improvement
$481,590
Land market value
$1,157,970
Improvement market value
$481,590
Total market value
$1,639,560
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Theaters & concert halls
Use group
AUDITORIUM
Status
Off-Market
Year built
1981
Heating
FORCED AIR
Cooling
CENTRAL
Bathrooms
2
Total area
6,720 SF
Lot
1.9 ac (82,720 SF)
Zoning code
6
APN
0490-00-01201
UPID
US83-2385257
Jurisdiction
MONTGOMERY
Zoning & alternative use
6 · Conroe, TX
Zoning 6 · permitted uses
6 · Conroe, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Conroe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
THEATER (MOVIE) Current
Est. value
$595,000
RESTAURANT
Est. value
$800,000
WAREHOUSE, STORAGE
Est. value
$635,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$610,000
AUTO REPAIR, GARAGE
Est. value
$600,000
OFFICE BUILDING
Est. value
$540,000
RETAIL STORES
Est. value
$505,000
THEATER (MOVIE) Current
RESTAURANT
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Heating
FORCED AIR
Cooling
Yes
Bathrooms
2
Lot
1.9 ac
Current owner
From public records · entity-resolved
Conroe Event Center INC
Entity
Free & Clear · 9 yrs held
Mailing address
16561 HUNTERS TRL, MONTGOMERY, TX 77356-7331
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 21, 2016
—
Conroe Event Center INC
Knights Of Columbus HOA INC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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